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Study: C-Level Execs Fear “Missing Out” with the Cloud

More than 80 percent of C-level execs and other IT leaders are either “extremely” or “very” concerned about missing out on cloud advancements. That’s according to a recent survey conducted by Commvault, a New Jersey-based vendor specializing in enterprise backup, recovery, archive and cloud offerings.

The survey concludes that “fear of missing out” (FOMO) is driving business leaders to move full speed ahead on cloud strategies, with 93 percent of respondents stating that they are moving at least some of their processes to the cloud. In addition, 56 percent of respondents stated that they have moved or intend to move not just some, but all of their processes to the cloud.

“C-level and other IT leaders are rightfully concerned about keeping up with cloud developments,” said Don Foster, senior director of solutions marketing for Commvault. “To be innovative in this transformation, organizations of all sizes must have a clear understanding of how new cloud technology developments enable pragmatic and efficient means for how data is moved, managed, protected and most effectively used with cloud technology, either on-premises or with a cloud provider.”

The research also showed that 75 percent of business leaders viewed data protection and backup as one of the cloud projects that are most impactful to their business — more than any other cloud project. However, despite seeing data protection and backup as the most impactful use case for the cloud, 63 percent were extremely concerned or very concerned about being able to recover data quickly from the cloud.

According to the study, the biggest barriers to moving more apps and data to the cloud include the sheer volume of data (68 percent), and staff skills (65 percent). Only one percent of business leaders described their cloud journey as “Frustrating,” and 13 percent found it “Expensive,” -while 51 percent described it as “Innovative” and 35 percent called it “Exciting.”

The survey targeted C-level executives in industries including but not limited to tech, financial services, manufacturing, healthcare, retail and telecoms in the US.

Channel Impact®
The data suggest that partners may be able to deepen relationships with customers by acknowledging these fears and developing proactive strategies to address them.